Dai Quang Minh appoints new deputy CEOs ahead of Red River boulevard project

Overview

Dai Quang Minh, a member of THACO, announced the appointment of two new Deputy General Directors and other leadership positions to strengthen its management team for upcoming infrastructure and real estate projects, including the Red River landscape boulevard project. The appointments were made at a meeting to deploy the investment, construction, and governance plan for the second half of 2026.

Key Facts

• Mr. Tran Anh Long appointed Deputy General Director of Dai Quang Minh, in charge of the Transport Infrastructure Project.
• Mr. Nguyen Phi Hung appointed Deputy General Director of Dai Quang Minh, in charge of Construction of Real Estate & Urban Areas - Industrial Parks.
• Mr. Nguyen Duc Trung appointed General Director of the Construction Corporation, and Mr. Ngo Tran Trong Le appointed Deputy General Director of THADIDESIGN.
• Dai Quang Minh is the lead member of the consortium proposing the Red River landscape boulevard project, with THACO and Hoa Phat (HPG).
• The project’s total proposed investment is approximately VND 714,000 billion, with an alternative plan mentioning VND 855,000 billion.
• The project is proposed under a public-private partnership (PPP) with a BT contract, spanning 2026-2038, covering about 11,418 hectares.

What Happened

At a meeting to deploy the Investment - Construction and Governance Plan for the second half of 2026, Dai Quang Minh announced the appointment of two new Deputy General Directors to strengthen its management apparatus. Mr. Tran Anh Long will oversee the Transport Infrastructure Project, while Mr. Nguyen Phi Hung will manage Construction of Real Estate & Urban Areas - Industrial Parks. Additionally, leadership roles were filled for subsidiary corporations, including Mr. Nguyen Duc Trung as General Director of the Construction Corporation and Mr. Ngo Tran Trong Le as Deputy General Director of THADIDESIGN.

As a member of THACO, Dai Quang Minh manages comprehensive investment and construction activities across various project types, including urban railways, roads, port infrastructure, logistics, real estate, urban areas, and industrial parks. The company plans to deploy several key projects nationwide in the second half of 2026 and 2027, aiming toward 2028 and beyond.

Market Context

Hoa Phat (HPG), listed on HOSE, closed at VND 22,000 on August 7, 2026, up 0.92% with a volume of 8.6 million shares. The appointment news comes as Dai Quang Minh, THACO, and HPG are involved in the Red River landscape boulevard project, a massive infrastructure-urban initiative. This project is part of a broader trend of large-scale PPP projects in Vietnam, which could provide significant opportunities for construction and materials companies like HPG.

Strategic Significance

The leadership restructuring at Dai Quang Minh signals preparation for large-scale projects, particularly the Red River boulevard, which requires robust management and execution capabilities. For HPG, participation in this consortium could diversify its revenue streams beyond steel, leveraging its construction and materials expertise. The project’s scale and long duration (2026-2038) offer a multi-year pipeline, but also carry execution and financing risks typical of mega-infrastructure projects.

What to Watch

• Official approval and contract signing for the Red River boulevard project.
• Updates on the consortium’s financing plan and capital mobilization.
• HPG’s quarterly earnings reports to assess any impact from project participation.
• Regulatory changes affecting PPP projects in Vietnam.
• Further leadership appointments or organizational changes at Dai Quang Minh or THACO.